The mortgage fraud investigation was led by the New Brunswick RCMP Commercial Crime Section, and was assisted by the Fredericton Police Force. The investigation was generated from tips received from the New Brunswick Securities Commission, which led its own separate Basket Puma Drift

were both charged with one count each of fraud over $5,000 and one count of uttering Puma Basket Heart Sale forged documents for submitting several mortgage applications containing falsified documents to Scotiabank. Priest Phillips Management Corp. was operating under the name of DLC Priest Financial and the banner Dominion Lending Centre, while operating in the Fredericton area. The charges against the company were later withdrawn.

securities investigation into other activities of William Priest Phillips.

On July 10, 2012, as part of a five month investigation, William Priest Phillips and his company, Priest Phillips Management Corp., Puma Creepers Maroon Velvet